Daeho Al Co.,Ltd. announced a private placement of series 18 unregistered coupon non-guaranteed private convertible bond for gross proceeds of KRW 5,000,000,000, series 19 unregistered coupon non-guaranteed private convertible bond for gross proceeds of KRW 5,000,000,000 and 9,244,992 shares for KRW 3,245 per share for KRW 29,999,999,040 and for total proceeds KRW 39,999,999,040 on November 23, 2021. The transaction will include participation from new investor JS Winner fund for series 18 bonds, Mort Core Competency Industry No. 3 Fund for series 19 bonds and Code Neo Co., Ltd for shares.

The transaction has been approved by the board of directors of the company. The bonds will bear an interest rate of 4% and maturity rate 5%. The series 18 bonds are 100% convertible into1,355,013 common shares at conversion price of KRW 3,690 for 2.65% equity and series 19 bonds are 100% convertible into1,355,013 common shares at conversion price of KRW 3,690 for 2.65% equity.

The series 18 bonds and series 19 will mature on December 08, 2024 and January 21, 2025 respectively. The conversion of series 18 will start on December 08, 2022 and will end on December 01, 2024 and conversion of series 19 bonds will start on January 21, 2023 and ends on January 14, 2025. The shares and bonds are subject to hold period of one year.

The payment date is December 08, 2021 for series 18 bonds, January 21, 2022 for series 19 bonds and March 30, 2022 for shares.